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Search Cali Homes Team
1952 Pine, Long Beach, CA 90806
- $1,565,000
Listing courtesy of Listing Agent: Malcolm Zeger (malcolm.zeger@buckinghaminvestments.com) from Listing Office: Buckingham Investments, Inc.
- List Price
- $1,565,000
- Status
- ACTIVE
- Days on Market
- 165
- MLS#
- SB26098488
- Subtype
- Residential Income
- Year Built
- 1940
- Lot Size
- 6,742
- Acres
- 0.15
- Subdivision
- Wrigley Area (Wr)
- Neighborhood
- Wrigley Area (Wr)
- MLS Area Major
- Wrigley Area (5)
Property Description
Priced to sell! This well-performing 8-unit building is located in the South Wrigley neighborhood of Long Beach. The rear garages were converted to 2 brand-new 1BD/1BA ADU's at 386 square feet each. Priced with very high in-place cash flow at close with actual rents resulting in an 8.81X GRM and 7.3% cap rate. There is a courtyard in the middle of the property for tenant enjoyment. This property is located about 1.5 miles from Downtown Long Beach, and less than a mile to the 710 freeway, making this a strong rental location for tenants and investors. Tenants can utilize the nearby Metro Line, shopping centers, medical facilities, schools, and dining. Don't miss out on this incredible opportunity! Available for sale with neighboring property, 1958 Pine. Offering memorandum in supplemental materials.
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Additional Information
- Pool Type
- None
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.